five Point Capital National Funding One Dollar Buyout Leases Turn Into Fair Market Value Leases at the End of the Lease Term San Diego California

My concerns involving Five Point Capital and me have been resolved to my satisfaction. I wish to withdraw my prior statement.

We are now in court proceedings with Five Point Capital.  Our attorney is Joe Utzurrum, he is licensed in the state of California and the state of Hawaii.  I wrote earlier regarding Five Point Capital and their "one sided and unconscionable terms" and basically "taking the food from my childrens mouths". 

I also have been scammed from this company with their $1 buy out lie.  This will really hurt The Fun Guy business in North Idaho.

Thank you for the good information.  I will call he lawyers you recommend.

Wow. So they are still at it huh?  I guess money does motivate poeple to do some very unscrupulous things.  I just stumled on Ripoff report today taking a look at another company I was thinking of doing business with, and wondered what the standing on FPC was on this site, being 5 years after I had stopped workign for them.  You see, I dont think anyone that worked for that company in operation, sales, or even management really truely had an idea of what actually went on with those leases from start to finish. 

Now, I worked in the back end collections department.  I was employed there from 12-06 to 8-08. Man, I tell you, FPC IS THE REASON I REFUSE TO WORK IN THE MONEY INDUSTRY!!!  I recall the first week of employment there.  After my first week, right before Christmas 06, I went out to celebrate my new job and ran into Dan Feder at this happy hour joint.  He was there with PJ Stone, the guy we all later found out to be wanted by the FBI and who was arrested at the FPC building.  It really hit home with me because we were the ONLY TWO BROTHAS working in the building.  Yeah I said it...and anyone who was working there at that time will know exacly who I am...and if you STILL work for them, GOD bless your soul.  You should be ashamed of yourself.  So yeah, I dont give a s***. LOL. In the club, Dan says to me, "I want you to f** these mother f****** up!"  I had no idea how to respond or what he was talking about.  But a year later when I was upholding lease contracts where equipment delivery was delayed in order to charge an exrtra month of Interim Rent, or when I had to retain 35% of the original equipment cost (no matter what type of equip it was) in order to get any bonus, or when I looked at the contract and said, "I'm sorry mam, I dont see anything denoting your account as $1 buyout...knowing d**n well that the salesaman didnt include the 1 page addendum to the lease to denote the buyout ON PURPOSE, so that the company can hold the company hostage at the end of the lease - thats when I realized what Dan Feder was talking about.  And for a year and a half or so, I f**ked those mother f**kers up all right.  I was mezmerized by the suits, cars, and money flowing through that buiding.  I think everyone was.  I took on that corrupted persona and did what I could to make some money while the getting was good.  I mean, I would charge 35% on 4 year old computer equipment that wasnt worth 5%.  Knowing that, at that point, it was a vital peice of the business owners company, we would put their back against the wall and sqeeze the money out of them somehow.  SMH...to this day I cannot believe they are still in business.  I'm glad I have a heart.  At some point I woke up.  I may have been when, on one of the last calls I took, I had a woman literally crying on the phone.  The way I remember it was:

The Lessee wanted to gain some tax incentives by leasing equipment that she already had.  A lease buy-back.  FPC bought the tractor (lets say 300k - dont remember exactly).  Then she was going to turn around and lease it back for the tax write offs.  Of course, the lease was supposed to be a $1 buyout.  So she was going to pay a little extra for the stream of payments plus the tractor, and pay it off just as soon as she sold it. When she called in to pay, she explained it was a dollar buyout and she wanted to knock out everything in one shot.  I pulled the contract...and da dada da...Fair Market Value! No suprise. So I say, "I'm sorry mam, but I dont see anything on this lease that says $1 buyout (you had to have the 1 page addendum - it may be different now)."  I precede to tell her she has to pay for the stream of payments PLUS the value of the tractor, which came out to like 700k or something crazy. And someone mentioned this name on a post before...the salesman? Fast Freddy Cruz (as we called him in the collections dept).  As I communicated this to the woman, she literally broke down, started screaming and crying...I'll never forget that.  I went home that night and felt like an absolute peice of stanky s**t and told myself...never again. 

The funny thing was, I had already been applying for jobs and had an iron in the fire.  Not too long after that I gained another position that was right on time.  The ironic thing was it was another furniture leasing company which turned out to be the worst working experince in my life, but that was due to the terrible transactional leadership vs. money hungry assholes who dont give a s**t about anyone.

So there you have it.  Money is a result of passion in your work and doing things the right way.  It shouldt be a focus.  s**t, from what I've seen the US economy is about to crash in ways we have never seen anyway.  Love your family, your friends, and treat people kind.  At the end of the day, that is whats important.  The shine always gets old and rusted after a while...

So I felt the need to get that off my chest.  I have taken up a career in education where I can ake an interest in poeple lives and help them further thier dreams.  I would never again work in the money industry because it creates callus mindsets and corrupts souls.  Oh, and that Sandra Otero...I remember her.  Peice of work for sure.  F*** em all!